TNAG-0534-FCO40-629-UK-aid-to-Hong-Kong-Polytechnic-and-technical-institutions-1975 — Page 233

XCC(74)36

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The Committee therefore felt it necessary to confine itself to recommending general approval in principle; together with specific approval of financial commitments up to 1976 to cover Phases I and II only. The UPGC wished to reserve its position over Phase III which would involve some 37% of the total building cost.

20

The Committee therefore confined itself to recommending immediate acceptance of an overall financial commitment in respect of Phases I and II of:

(a)

building cost

$135.06 million

(b)

fees at 9%

Total

$12.16 million $147.22 million

(Phases I & II)

In terms of Government financial years, expenditure would be:

1974/75 1975/76 1976/77

$77 million

$20 million

$10. 22 million

Over and above the immediate financial commitment for Phases I and II, the Committee also recommended that a further commitment of approximately $100 million including fees should be accepted in principle, in respect of Phase III. Implementation of this acceptance in principle would be subject to the UPGC processing formal Folytechnic recommendations and making recommendations to the Government before the end of 1976 regarding Phase III.

Polytechnic Staff Quarters, and Furniture & Equipment for the Development Flanned for HUNGHOM

21

The recommendations in Annex C are based on August 1973 prices and exclude provision for furniture and equipment, and for any element of staff quarters. The Committee recommended that the Polytechnic should be wholly non-residential, and that the problem of Polytechnic staff housing should be represented separately with a view to ending the present unsatisfactory interim policy of ad hoc commercial renting of quarters. Since this recommendation some progress has been achieved towards obtaining a suitable site for a programme of Polytechnic staff quarters. The Committee considered that the processing of equipment requirements for the new Polytechnic would be a potentially difficult matter which the UPGC would have preferred to deal with separately.

CONFIDENTIAL

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